Token unlock news: OP unlocks $90 million worth of tokens

According to the Odaily Planet Daily report, next week, 8 projects will usher in token unlocking events. A total of three projects have an unlocking ratio exceeding 2% of the circulating supply, namely YGG, PRIME, and OP. There are no large-scale unlocking projects this week.

YGG

Quantity unlocked this time: 16.69 million

Amount unlocked this time: approximately US$15.84 million

Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) for investing in NFTs based on virtual worlds and blockchain games.

The circulating supply of YGG tokens accounts for 59% of the total. This release mainly distributes 7.01 million YGGs (worth approximately US$5.69 million) to the community. Other distribution targets include founders, investors and project treasury. Although the amount released is not large, there may be a certain degree of selling pressure due to the relatively small total market value.

Prime

Quantity unlocked this time: 1.67 million

Amount unlocked this time: approximately US$15.67 million

Echelon Prime is a chain gaming platform that has currently announced the launch of two games, namely the card game Parallel TCG and the simulation game Parallel Colony. PRIME is the utility token of Echelon and its gaming ecosystem, used to purchase various products, services and gaming experiences.

This round of token unlocking is mainly aimed at two types of targets, namely Parallel Studio’s reserve funds and investors. The former will distribute tokens worth US$24.94 million, and the latter will distribute tokens worth US$20.51 million.

Optimism

Quantity unlocked this time: 26.41 million pieces

Amount unlocked this time: approximately US$90.6 million

Optimism is a Layer 2 expansion solution that uses the Optimistic Rollup solution to achieve the expansion goal of the Ethereum network. It can process transactions on a large scale while maintaining the security of Ethereum. Ethereum developers can use Ethereum efficiently without making changes. All the tools on the market.

The current circulating supply of OP accounts for 22% of the total. This time, it is unlocked for core contributors and investors. The former is 12.75 million OP (valued at US$43.61 million) and the latter is 1,141 OP (valued at US$39.02 million). The unlocked amount Accounting for 2.4% of the circulating volume, considering OP's high market value and high trading volume, the magnitude of the impact is not expected to be high.